Cracker Barrel Old Country Store (NASDAQ:CBRL) Hits New 52-Week High - Should You Buy?

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $69.33 and last traded at $68.69, with a volume of 591760 shares trading hands. The stock had previously closed at $66.33.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Loop Capital boosted their price target on Cracker Barrel Old Country Store from $50.00 to $55.00 and gave the company a "hold" rating in a report on Friday, June 6th. Bank of America boosted their price target on Cracker Barrel Old Country Store from $39.00 to $45.00 and gave the company an "underperform" rating in a report on Friday, June 6th. Truist Financial boosted their price target on Cracker Barrel Old Country Store from $64.00 to $65.00 and gave the company a "buy" rating in a report on Friday, June 13th. UBS Group reissued a "neutral" rating and issued a $60.00 price objective (up previously from $48.00) on shares of Cracker Barrel Old Country Store in a research note on Tuesday, June 3rd. Finally, Citigroup reissued a "sell" rating and issued a $42.00 price objective (up previously from $39.00) on shares of Cracker Barrel Old Country Store in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Cracker Barrel Old Country Store currently has a consensus rating of "Hold" and an average target price of $53.86.

Cracker Barrel Old Country Store Stock Down 1.5%

The company has a market cap of $1.50 billion, a P/E ratio of 26.08, a P/E/G ratio of 6.27 and a beta of 1.45. The company has a quick ratio of 0.26, a current ratio of 0.65 and a debt-to-equity ratio of 1.04. The business's 50 day moving average is $57.82 and its 200 day moving average is $51.50.

Cracker Barrel Old Country Store (NASDAQ:CBRL - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The restaurant operator reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.41. The business had revenue of $821.10 million for the quarter, compared to the consensus estimate of $824.65 million. Cracker Barrel Old Country Store had a return on equity of 16.83% and a net margin of 1.65%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that Cracker Barrel Old Country Store, Inc. will post 2.76 earnings per share for the current fiscal year.

Cracker Barrel Old Country Store Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 13th. Stockholders of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, July 18th. Cracker Barrel Old Country Store's payout ratio is presently 38.76%.

Insider Buying and Selling at Cracker Barrel Old Country Store

In related news, major shareholder Gmt Capital Corp acquired 53,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were purchased at an average cost of $44.60 per share, with a total value of $2,363,800.00. Following the completion of the acquisition, the insider directly owned 2,833,700 shares of the company's stock, valued at $126,383,020. This represents a 1.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 247,607 shares of company stock worth $10,687,406 over the last 90 days. 1.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cracker Barrel Old Country Store

Several hedge funds have recently added to or reduced their stakes in CBRL. GMT Capital Corp purchased a new stake in Cracker Barrel Old Country Store in the first quarter valued at $78,750,000. Marshall Wace LLP boosted its holdings in Cracker Barrel Old Country Store by 151.9% in the fourth quarter. Marshall Wace LLP now owns 767,006 shares of the restaurant operator's stock valued at $40,544,000 after purchasing an additional 462,542 shares during the last quarter. Woodline Partners LP boosted its holdings in Cracker Barrel Old Country Store by 340.8% in the first quarter. Woodline Partners LP now owns 332,790 shares of the restaurant operator's stock valued at $12,919,000 after purchasing an additional 257,301 shares during the last quarter. Towle & Co. purchased a new stake in Cracker Barrel Old Country Store in the fourth quarter valued at $13,575,000. Finally, Trexquant Investment LP purchased a new stake in Cracker Barrel Old Country Store in the first quarter valued at $4,795,000. 96.01% of the stock is owned by hedge funds and other institutional investors.

About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of restaurants with a gift shop. The company's restaurants serve breakfast, lunch, and dinner daily, as well as dine-in, pick-up, and delivery services.